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Fact
Despite media reports to the contrary, the United States' economic position in the world is likely to sustain itself over the next several decades. By 2050, the U.S. population between the ages of 15 to 64, the most economically active segment of the population, will grow by 42%. Conversely, the same segment in China will decline by 10% and in the European Union it will decline by 25%.
-Derived from “America on the Rise.” Forbes. 2010
Quote
"Recommend virtue to your children. It alone, not money, can make them happy. I speak from experience."
- Ludwig van Beethoven
Inside
How Forecasting Helps Waller Financial Clients Achieve Their Lifestyle Goals
At Waller Financial, we believe in the power of certainty. That is, there is great certainty that markets and investments will fluctuate on a daily, monthly, and annual basis. That’s why our process begins by building an understanding of each client’s lifestyle and legacy goals through which a unique financial plan can be designed.
Each client’s financial plan is crafted with the end outcomes in mind. Of equal importance to this plan is Waller Financial’s team-based approach to managing the plan during times of great fluctuation. Whether fluctuation is driven by life events or external circumstances, the Waller Financial team forecasts the impact of each event and provides each client with a clear understanding of the best course of action available.
This approach has been vital in assisting clients manage through the recent economic downturn. Waller Financial client “John” retired in early 2008 after a successful career in the technology industry. As the economy began to rapidly decline, John and his wife Michelle became very concerned that his retirement may have been premature. Would their assets be sufficient to maintain their lifestyle in the new economy?
By the time John contacted his financial planner, the Waller Financial team was ready with an answer. “As a part of our active management process, we used forecasting tools to gauge the impact of the economic changes on John’s and Michelle’s financial picture and their goals,” said Senior Planner Jason Farris. “We were able to provide our clients with best and worst case scenarios, and outline for them how small changes in their lifestyle could assist in reaching goals they thought were unattainable in the new economy.”
As forecasting indicated, John did not have to return to work to maintain the family’s lifestyle. John and Michelle did need to delay the purchase of John’s dream car, a 1956 Jaguar XK-140, but with the confidence provided by Waller Financial’s active management process, the couple moved forward. In the end, John decided to return to work on a part-time consulting basis, and looks forward to putting the top down this Spring.
“Financial forecasting is a key component of our management process,” said Mr. Farris. “Forecasting allows our team to measure the impact of economic, financial, or lifestyle events and to recommend adjustments, if necessary, to each client’s financial plan. By combining a goal-specific, customized financial plan with our active management process, we are able to take the guess work out of each client’s financial decisions.”
Waller Financial is proud of its role in helping clients to achieve their lifestyle and legacy goals. If you have questions about your financial plan, or would like to learn more about the firm’s financial planning process, call your financial planner today at 614.457.7026.